Arizona’s four-year public universities had the nation’s largest in-state tuition and fees increase over the past five years, according the nonprofit organization that oversees the SAT.
Treasury Secretary Jacob Lew warned Thursday of a “potentially catastrophic” hit to the economy if the nation reaches the debt limit next week and defaults on its obligations.
2010 decision to mortgage state’s assets threatens cash reserves
Borrowing billions of dollars allowed Arizona to limp through the worst financial crisis in its history. But the decision to mortgage state assets that include the House and Senate buildings has an unwanted underside: It precludes the state from having significant cash reserves.
The 2012 campaign is long over, but the Open Government Committee’s campaign debt lives on. According to campaign finance reports, the committee, which led the charge for Prop 121, ended the cycle with $502,000 in outstanding debt, about $405,000 of which is owed to the consulting firm Riester – none of which has been paid back.
The Republican National Committee rode to the Arizona Republican Party’s rescue, writing it a $50,000 check in early March that was then used to pay down the state party’s crushing debt load. According to the latest FEC campaign finance report, the party paid off roughly 70 percent of the $88,841 debt it reported last month, and is now reporting $24,730 owed.
Now that Arizona’s fiscal picture is rosier, with projected surpluses instead of staggering deficits, lawmakers are looking at undoing one of the state’s more embarrassing budget gimmicks.
In the week following a string of Washington and Wall Street theatrics, experts are saying that Arizona’s recovery will be slowed as consumer and investor confidence dwindles.
The debt-ceiling debate, the downgrading of the U.S. debt and the market mini-crash this week have exacted a steep toll on Arizona’s stock market investments.
Senate Minority Leader Mitch McConnell has named Sens. Jon Kyl of Arizona, Pat Toomey of Pennsylvania and Rob Portman of Ohio to the committee.
After policymakers borrowed heavily to keep government afloat amid a festering fiscal crisis that blew holes in the state’s budget for four years, a former Senate president tried to put into place a mechanism to rein in politicians’ appetite for debt-financing.
The U.S. Debt Limit, Homeland Security, Firefighter Funds, Mass-Transit Security, the GOP Libya Plan and the War Powers Act. See how Arizona's Congressional delegation voted on the issues this week.
Most state lawmakers insist they had no other choice than to borrow billions of dollars to keep Arizona government running during the past few years. The reality, however, is that they had a couple of options – they just didn’t like them.